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flyingguitar1
March 3, 2020
Question

When I enter Box 2a from my 1099-DIV form into Turbo tax it seems to be taxing it as ordinary tax rate not the 15% I expected. I was told from Vanguard that it is long term Capital gains. Does anybody have any ideas on what I can do to get this corr

  • March 3, 2020
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    1 reply

    VolvoGirl
    VolvoGirl
    Employee
    March 3, 2020

    Even though it shows up as income on the first page,  if you have capital gains or qualified dividends the tax on line 12 is not taken from the tax table but is calculated separately from schedule D.  The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet.  It does not get filed with your return.  In the online version you need to save your return as a pdf file and include all worksheets to see it.

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